Why do I get notified about my wife's events on my iPhone even though she sets no alerts? Anyone her

My wife and I are both running iOS 7.1.2 and iCloud.
We have both turned OFF Shared Calendar alerts in phones and iCloud website.

My wife's default alert times are NONE.
My default alert times are 1 DAY AHEAD.

She has shared her iCloud calendar with me privately - view only.

I have shared my iCloud calendar with her privately - view only.

Nevertheless when she adds event in her calendar, I still get notified that she added the event to her calendar. Worse even I get event notification - about her event - according to my alert settings!!

Here her event seen on her phone with no alert time:

Just after she adds the event on her phone to her calendar, I still get notified like this on my phone:

If I view event details of her event on my phone, you can see the event now uses my alert times and I get notified about her event:

Are there anybody here using shared calendars successfully?

I can not see the benefits that I should be alerted every time my wife's appointments is due?!

I am completely with you. I want to actively see what is on my husband's shared calendar inside the calendar app. I don't want my phone to remind me of ALL his calendar items! This is not shared -- this is overshared.